Austin Mackin 11 a.m., March 7
SD Home Values Down 40% from Peak
San Diego home values dropped 0.7% from November to December, according to Case-Shiller/Standard & Poor's data released this morning (Feb. 28). That was less than the 1.1% drop of the top 20 metro areas.
For the year, however, San Diego's decline of 5.4% was larger than the 4.0% decline of the top 20 areas. San Diego home values are now down 39.9% -- rounded off, 40% -- from their peak in late 2005.
Nationally, the new data are disappointing. "While we thought we saw some signs of stabilization in the middle of 2011, it appears that neither the economy nor consumer confidence was strong enough to move the market in a positive direction as the year ended," said S&P's David Blitzer.